ePub's an open format, but still has the option to add DRM if the seller (Apple) wants to. So their book smay be in an open format, but still locked down with DRM. We won't know for sure until the iBook store's open for business, though.
Apple will defer to the publisher on DRM. Apple probably prefers no DRM at this point in time.
For sale with or without DRM; it doesn't matter. Torrents for albums and movies are obviously linking to non-DRM copies of the media. Piracy has eaten the profits of the old music industry. DRM has done nothing to stop this.
As soon as a flood of free (albeit, illegal) copies of books are available online, the whole discussion of pricing models (have the vendor buy wholesale and set pricing vs. have the publisher set pricing) may be replaced with a discussion of the core pricing, itself. I feel that this is especially true when dealing with content such as textbooks, which are usually considered a necessary expense and are usually priced above $100. Free is tempting, and when stealing a book becomes as ubiquitous as stealing music, the publishing industry may have to reappraise their methods and potential profits.